Archer Aviation’s (ACHR) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Archer Aviation (NYSE:ACHR)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $10.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 168.46% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ACHR. Barclays reduced their target price on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research note on Friday, May 17th. JPMorgan Chase & Co. reduced their target price on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.10.

Archer Aviation Price Performance

Shares of ACHR opened at $3.73 on Monday. Archer Aviation has a twelve month low of $3.00 and a twelve month high of $7.49. The stock’s 50 day moving average is $3.55 and its two-hundred day moving average is $4.50. The firm has a market capitalization of $1.21 billion, a PE ratio of -2.29 and a beta of 2.35. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.08.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same period last year, the firm earned ($0.46) earnings per share. Research analysts anticipate that Archer Aviation will post -1.33 earnings per share for the current year.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. Vanguard Group Inc. boosted its position in Archer Aviation by 20.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock valued at $42,123,000 after buying an additional 1,394,872 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of Archer Aviation during the first quarter valued at approximately $5,782,000. ARK Investment Management LLC boosted its holdings in Archer Aviation by 4.7% during the fourth quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock worth $152,931,000 after buying an additional 1,116,908 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in Archer Aviation during the fourth quarter worth approximately $3,825,000. Finally, Seven Eight Capital LP acquired a new position in Archer Aviation in the 3rd quarter worth approximately $2,739,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.